Libya News 24
The Minister of Economy and Trade in the unity government, Muhammad al-Huwaij, called for the formation of a technical committee that includes all specialized institutions to prepare a mechanism for replacing fuel subsidies with cash subsidies in accordance with the vision of the national unity government to improve the level of services, according to a ministry statement.
The ministry said that Al-Hawaij stressed, during Monday’s meeting, which included the undersecretaries for commercial and economic affairs, to complete the preparation of the 2030 economic diversification strategy in coordination with relevant authorities from governmental and academic institutions, and to refer it to the Presidency of the Council of Ministers.
She added that the challenges facing the economy and investment sectors were discussed in the presence of the Chairman of the Board of Directors of the General Authority for Investment Promotion and Privatization Affairs, the Chairman of the Board of Directors of the Libya Trade Network, the Advisor to the Minister, and the directors of departments and offices at the Ministry’s office.
She said that the recommendations of the Prime Minister were reviewed during his meeting with the Ministry of Economy and Trade and its affiliates in March 2023, the procedures and steps taken, and the mechanism for implementing the national unity government plan to study and address the fuel subsidy file and replace it with cash subsidies.
The Ministry stated that Al-Hawaij followed the implementation stages of the digital transformation plan of the Ministry and its affiliated entities, to activate the trademark system and the mechanism for linking the commercial registry system with the civil registry system and the national number, in coordination with the General Authority for Information.
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